Village at Indian Wells

The Mililani Community Shopping Center is one of two principal retail centers in the master-planned community of Mililani, situated in central Oahu, north of Pearl Harbor. The center is anchored by locally owned Foodland Super Market, the largest grocery chain in Hawaii, and Ross Dress for Less. Additional tenants of note include 24-Hour Fitness, First Hawaiian Bank, Jack in the Box and a variety of retailers, restaurants, professional and service providers.

The Mililani center purchase represents entry into the Hawaii market for Stoneridge, which has completed more than $140 million in acquisitions since April 2009. Greg Merage, CEO of Stoneridge Capital Partners, comments regarding the Mililani acquisition that, "Due to supply constraints within the local market, this shopping center benefits from both high occupancy levels and historically high rental rate growth, making it an ideal fit for our real estate investment strategy."

In addition to its retail acquisitions, Stoneridge acquired the 498-unit Avila at Rancho Santa Margarita apartments in Rancho Santa Margarita, CA for $70 million in April 2009. Merage says that Stoneridge will continue to leverage its strong cash position to expand its portfolio of commercial and multifamily assets.

A&B Properties was represented by Mark Bratton of Colliers Monroe Friedlander along with Tom Lagos and Fred Cordova of Colliers International. Stoneridge did not use broker representation.

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Stoneridge Capital Pays $50M for Miliani Center

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